Sensex rises over 100 points

Tue 29 Oct 2019, 11:21:41
Mumbai: Equity benchmark BSE Sensex jumped over 100 points in early trade on Tuesday led by gains in Tata Motors, RIL and TCS, amid foreign fund inflow.

After hitting a high of 39,393.12, the 30-share index was trading 106.37 points, or 0.27 per cent, higher at 39,356.57 in morning trade, and the broader NSE Nifty advanced 16.75 points, or 0.14 per cent, to 11,643.90.

Tata Motors was the top gainer in the Sensex pack, rallying over 13 per cent, after its British arm Jaguar Land Rover (JLR) returned to profitability, reporting a pre-tax profit of 156 million pounds, 246 million pounds better year-on-year.

Shares of Reliance Industries (RIL) too rose over 1 per cent after the company on Friday said it will set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse Rs 1.08 lakh crore equity into this new unit.

Tata Steel, M&M, Vedanta, TCS and Maruti too advanced up to 3 per cent.

On the other hand, Bharti Airtel, Yes Bank, Kotak Bank, HUL, NTPC, Asian Paints, PowerGrid and SBI fell up to 4 per cent.

In the previous session on Sunday, which was a special Muhurat trading session to mark the beginning of Hindu Samvat year 2076, the 30-share Sensex ended at 39,250.20, up 192.14 points, or 0.49 per cent.

Similarly, the Nifty climbed 43.25 points, or 0.37 per cent, to finish at 11,627.15.

Foreign institutional investors (FIIs) were net buyers in the capital market, buying Rs 6.61 crore on Sunday, while domestic institutional investors purchased shares worth Rs 54.39 crore, data available with stock exchange showed.

Bourses were closed on Monday on account of 'Diwali Balipratipada'.

According to experts, investors will stay focused on the next leg of corporate earnings announcements during this holiday-truncated week.

The US Federal Reserve is expected to keep its interest rates steady on Wednesday. Volatility may prevail for short term with the overall market volumes showing a decreasing trend as further cues on Brexit and trade war will remain in focus, they added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a mixed note.

On Wall Street, stock exchanges finished in the green on Monday.

The rupee, meanwhile, appreciated 16 paise against the US dollar to trade at 70.73 in early session.

Brent futures, the global oil benchmark, slipped 0.70 per cent to USD 61.14 per barrel.

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